Word: hikes
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Dates: during 1950-1959
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Much of the new municipal money, poured into overcrowded streets and schools, was scrounged from an average 12.5% rise in sales taxes, an 11% hike in debts. And many state legislatures and city councils are girding themselves for record inchings-up in tax rates next year...
...Spurred on by a hike in steel prices (see below), Aluminum Co. of America led other major producers in raising the price of basic aluminum pig 7/10? per lb., to 24.7?. Reflecting lively European demand for copper, custom smelters hiked the price of refined copper...
Among the causes for the buying spree were the inflationary implications of a proposed $8 billion hike in the national debt ceiling and a new high for the consumer price index, which climbed to a record 123.7 in June. There were also some good business reasons. The depressed machine-tool industry noted a 7% rise in new orders from May to June. Second-quarter earnings in some key industries showed a better recovery than expected, indicating that a snapback in profits may be closer than previously anticipated. Many investors were also quite obviously influenced by the headlines from the Middle...
...repeating their mistake during the Suez crisis, when they amassed stores of oil so large that production had to be chopped back hard this year. Last week the Texas Railroad Commission boosted the number of producing days in August from nine to eleven, but made it clear that the hike was due to a slight rise in petroleum demand and a reduction of oil inventories rather than to the Iraq crisis...
TROUBLED RAILROADS in East will get $60 million windfall in back mail pay, plus $32 million per year hike in rates. ICC approved 30% boost retroactive to last November, other increases retroactive...